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Crown Land Management Regulation 2018
49Scaling factor for rent
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#### 49 Scaling factor for rent
49 Scaling factor for rent
> > (1) This clause provides for the scaling factor referred to in clauses 45–48 for the financial year commencing on 1 July 2017 and for each subsequent financial year.
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> > (2) The scaling factor for the financial year commencing on 1 July 2017 is 1.16.
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> > (3) The scaling factor for each subsequent financial year is to be the scaling factor for the immediately preceding financial year plus half the CPI movement.
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> > Note.
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> > This formula will result in a reduction in the scaling factor in the case of a downward CPI movement.
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> > (4) The CPI movement is to be calculated as follows—
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> > %20AND%20(No%3D0088)%20AND%20(Year%3D2018)%20AND%20(%22Historical%20Document%22%3D0))/g6.gif)
> > where—
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> > C1 represents the CPI for the December quarter for the calendar year immediately preceding the financial year for which the scaling factor is to be determined.
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> > C2 represents the CPI for the December quarter for the calendar year immediately preceding the calendar year referred to in the definition of C1.
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> > (5) In this clause—
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> > CPI means the index known as the Weighted Average of Eight Capital Cities: All Groups Consumer Price Index that is published quarterly by the Australian Statistician.